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TDS

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(Querist)
13 June 2010 If a single bill goes beyond Rs. 20000 say Rs. 32000 and TDS is not deducted on the same , is it advisable to take 2 different bills of the same amt. ie. of Rs. 18000 and Rs. 12000 to avoid disallowance of the expense?
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
14 June 2010 YES. YOU CAN DO THIS BUT ONLY FOR DEDUCTION U/S 194C. BUT IF IN FUTURE THE TOTAL AMOUNT EXCEEDS ANNUAL THRESHOLD LIMIT THEN YOU WILL BE REQUIRED TO MAKE DEDUCTION.
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CA. BIJENDER KR. BANSAL

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CA. BIJENDER KR. BANSAL (Expert)
14 June 2010 agreed with Experts.
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Pankaj Jhawar

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Pankaj Jhawar (Expert)
14 June 2010 Please give full details regarding the type of payment. Query seems to be for contractor. Yes if there are two separate bills and each is of less than Rs. 20,000/- then TDS provisions will not be attracted but if the total amount paid to the party exceeds Rs 50,000/- during the year then TDS will be deducted on the whole amount. Further please note that TDS basic exmption limits are going to be changed form 1 July 2010.
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CMA Arif Farooqui

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CMA Arif Farooqui (Expert)
19 June 2010 agreed with Experts.
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